Used Car Market Update: 60% CRASH

you guys were wound up today.

These two are so funny!!!

You guys a Hoot!

if car prices double don't you think it will cost more to repair double priced cars. if they cost double to fix then you will pay double to insure them. don't understand why everyone is suprised by insurance going up if the cost of a vehicle doubles.

re: projections that connected cars will generate incremental revenue...that argument makes sense until you consider two things: (1) every driver already has a connected device (their phone) and (2) auto manufacturers are the worst software creators on the planet. Nobody is paying them to make software. That's why Carplay and Android Auto are so popular!

Zach, Prii would be pronounced "Pree-ee". Alternatively, the plural may be Prius, pronounced "PreeUuss"

All we seem to hear about is EV prices crashing? The reality is everything is crashing. Including the world economy.

You guys are funny!

I agree with Ray
In my opinion, used cars will remain High because of the “affordability issue “ in this country, compounded by the lack of lease returns and inexpensive vehicles returning to the market for sale. With new car prices as high as they are, and interest rates, a quality used vehicle may be a better option in some cases. Dealer lots are filling with inventory, and dealers may be looking to make more deals, but most people can’t afford a new car at the still inflated prices.
I think what we are seeing is a correction not a crash. Like Ray said , prices are still high, just not pandemic high.
Another topic to address is , as used car prices are falling people shouldn’t EXPECT to get the inflated price for their trade. This unfortunately works both ways , new car prices are dropping AND you’re not getting Top dollar for your trade.

Wholesale prices are not retail prices

They went hard with the puns in this one 😂

It really depends what you're looking for Right most 2020 Year built Car's are not down on price the last time I checked especially certain 2 liter powered Civics.

Pops is right

I love you two!! I’m a Chicago, USA small biz owner and mom of 6 adult married children. In need of a ( new Car) ASAP stumbled upon your show a few months back so grateful♥️

To be fair that’s you current headline

Give back a 100% please!

Motor cycles are mostly MSRP.

I did forget you guys are like totally against the EV thing just like the media and other information and they haven’t got a clue what they’re talking about you’d rather pump up and Frack the world and pump up gasoline and spit them fumes out right in your grandson‘s face when you’re stuck in the traffic jam and the guy in front is spitting out fumes with his fume busting SUV in front of you

Don’t forget boys monetary policy and the rate increases that left your credit cards at 20 to 30% and there’s nothing but delinquencies out there was all meant to be that was done on purpose to dismantle the country because it had grown too strong. The economy was on fire, so it was time to throw a bucket of water on it, and these are the results of that car sales it’s not because the companies bad it’s because nobody’s buying anything but what they need today and some of the time they screwed in buying a car today at 10% interest 12% interest like we’re not being taken advantage of here There’s nothing good about the market right now. There’s nothing good about buying a car right now. It’s a nightmare to buy a car right now and I know you have a business to sell cars and it will probably do phenomenal in the future but right now nobody wants to hearabout buying a car today nobody wants to do it not even with you negotiating if they have to because they buy what they need

2021 Toyota Tundra value gone down with that V8?

4 the viagra joke

The perfect duo! Unique perspectives both with great insight! Great info daily! Thank you from a month-long listener.

I leveraged all I've learned here to purchase a 🟥$15,995🟥 2015 Lincoln MKZ 2.0 Hybrid, 1 owner, No Crash, FWD for.....,..................🟢$12,833.50.🟢 "You don't get what you dont ask for". Thanks forbthe negotiation tips.

Need advice please

My fiancé and I have 2017 Mazda CX5 Sport with 86k miles, it’s our only car.

It needs multiple fixes…tires, brakes, rotors, control arms, a/c compressor. Also, for the past 2 years, we’ve had an air intake/clogged vacuum type noise happening when going up hill. However, we have taken it to multiple techs and they can’t find anything. The catalytic converter went out at 73k miles.

We can’t afford these repairs..I’m going through Cancer treatment so we’re not well off financially.

But, I’m getting scared of driving it to my appointments every day. Again, our only car.

Should we somehow try to get it fixed little by little or, try to trade it in? We still owe $11,000 on it

Wheres the giggle ... yours, music ..love the enthusiasm like the news done 😂😂😂😂😂😂😂

Another 40% I’ll start looking for another car.

What I thought was interesting is that used EV prices are still high. Money is tight so why would you buy an EV that is still WAY over priced? Maybe that is why the EV market is hurting.

probably gonna be another year for used car prices, 2 for used evs

Depends on what vehicles you are talking about. Nissan 240SX, Toyota MR2, GMC S15, Chevy K series trucls, or any reliable mechanical vehicle are all still headed to the moon.

It’s funny how they say that in the next three years lease vehicles will be less coming back on the market, but why do you need to worry about that so much when you have an excess amount of repos for those same 1 to 3 year old cars so it was just the balancer

Tell that ev equinox customer to give me a call lol we are trying everything to get rid of our ev for a reasonable price. Yes below msrp

Regression To The Mean demands that prices decline below the previous averages.

But those people who aren’t going to return leases also won’t be buying so less demand.

This is the best video you have ever put out! 😂

I PAY CASH
They give me their number
I give them my number.
No compromise.... I WALK

No, no no no no Toyota is not extending any of their build dates for a model year change. In the 15 years that I've been working at the 2 plants in ONTARIO CANADA THE SCHEDULED start and stop date is strictly dependent on when the clock strikes midnight on a given date and time by TOYOTA JAPAN THE MOTHERLAND ! That s just how it goes and how it's always been. at least for Toyota building vehicles on CANADIAN soil, with whatever government regulations are implemented between the two sides . One night I could be working on a 2023 model I
& go to have a 20 minute coffee break. I come back from my break and now building the 2024 model which is exactly the same as the car. I just built 20 minutes ago but the model year have manufacturing date changed at midnight on a certain date and time while we are working at the Woodstock ONTARIO Canada 🇨🇦TMMC RAV4 MANUFACTURING PLANT. while I was working at the Cambridge Ontario manufacturing facility. I was placed in the north side of the plant in which the Corolla and Toyota Matrix were being built on the same line due to the identical template and a lot of the parts being identical just made sense. When I had the opportunity to leave Cambridge Ontario to work at the Woodstock Ontario plant in order to cut my commute in half half I gratefully seized the opportunity, not knowing what to expect after already working at the Cambridge facility for several years. The RAV4 assembly plant in Woodstock Ontario was originally slated to be a multi vehicle assembly plant. Meaning It was never meant to be strictly a RAV4 and various versions of the RAV4 vehicle only. When unexpectedly, the sales of the RAV4 vehicle simply exceeded. Projected expectations when it quickly became the number one selling vehicle besides pick up trucks in North America.. needless to say the demand for the RAV4 and the RAV4 hybrid have significantly increased with no downturn of the sales market in sight. When we started building the hybrid version, we were promised that we would never see back to back or two hybrid models in a row that needed to be built. The reason I mentioned this is because there is significantly more time needed because of the fact that it's basically two cars in one with a lot more options than a standard version. Not only did we see back to back RAV4 hybrids, but due to the demand, I personally experienced 8 RAV4 HYBRID MODELS IN A ROW THAT NEEDED TO BE BUILT IN ORDER TO CATCH UP TO THE LOSS OF VEHICLE MANUFACTURING DURING THE PANDEMIC AND THE INCREASED SALES DUE TO ITS EXCEPTIONAL, GAS MILEAGE WITH ANY OF THE TRIM LEVELS ON THE HYBRID OPTIONS. Thank you for the time you put in to the show I do enjoy it mainly the corny jokes lol. Surprisingly, I don't own, nor can afford a Toyota pick up truck that I would love to have but instead I'm still driving my 2017 RAM 1500 I bought brand new prior to the pandemic in which I thought I got a great deal of $55,000.00 CAD or 40,000 A MERICAN USD with the front tint included, and then the tunnel cover and something about the navigation system. I want it done as well on the BIG HORN ADDITION, WHICH IS AS YOU WILL KNOW THE MIDDLE GROUND FOR OPTIONS, BUT MORE THAN ENOUGH FOR ME BECAUSE AFTER THAT MOMENT, I HAD A 1995 GMC JIMMY THAT I KEPT GOING DUE TO MY BACKGROUND AS A TECHNICIAN UNTIL THE ACCIDENT. Nonetheless I have had no issues whatsoever with that RAM 1500. Keep in mind that I stay on top of everything with it because I can tell when somethings wrong and with enough time and parts, I can fix anything so far. lol

The car market is a mess and never seen dealers packed with so much inventory. Less buyers, banks are more conservative, it's going to get worse. Eat it dealers, crooks!!!🤣🤣🤣🤣

Where are these guys? No mew videos since Wednesday

I mean, when the stock market goes down 50% they call that a crash, soooo… 🤷🏼‍♂️

I believe there will be a total crash of the auto industry in the last 6 months of this year. Do you agree or not?

I think higher end vehicles will crash big time. I think lower end cars will continue to rise because the buyer demand on those vehicles will rise due to the lack of affordability of those higher end vehicles and over production of them

Thanks for calling out your son’s Clickbait headline Ray keeping an honest 😉

Can you imagine a conversation between Ray and Scotty Kilmer.. 😂

As inventory bills, car companies and dealers will have to adjust their sales expectations

Finally all used cars price crashing down

My question for Ray though is won't the new car build up back fill what we would see from lease returns? Eventually those dealers need to do something with those cars and they will have no choice but to move them to dealer fleet. I don't think it will be 5 years but I would expect 2-3 years before a return to normal. I haven't seen an oversupply like this since 08 and they were discounting vehicles like crazy back then.